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Simon Chandler
Author
Simon Chandler
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The Cardano price has risen by 2.5% in the past 24 hours, moving to $0.4055 as the crypto market as a whole gains by 2% today.
This means that ADA has gained by 13% in a week and by 16% in a month, with the coin in the market also seeing a 66% rise in the past year.
These gains mark a promising period for Cardano, which has now become the tenth-biggest coin in the market, flipping Tron this morning.
Given its recent momentum, and given ongoing Cardano updates, we could certainly see the alt climb higher and flip other coins.
Cardano Price Forecast as ADA Enters Top 10 – Will It Overtake Solana?
ADA has been riding some strong momentum this week, which would imply that we may see a little dip this weekend before it continues its medium- and long-term growth.
For example, its relative strength index (purple) has declined from a high 70 early this morning to just over 50, suggesting that some traders may be taking profits today.
This is happening amid a 30-period moving average (period) that has been well above the 200-period average (blue) for more than a week, its distance also suggesting that a little correction is due very soon.
Yet the fact that ADA has hit its highest volume for a month today (at just over $460 million) would suggest that any correction will be brief, with the alt having lots of impetus right now.
Some traders have noted that its current pattern is uncannily close to replicating the movements of its 2019 rally, which would imply very strong gains in the coming months.
It helps that Cardano is boasting increasingly strong fundamentals, with the network continuing work on scaling updates.
The biggest update on its horizon is Leios, which will founder Charles Hoskinson recently declared will make Cardano “faster than Solana but without losing decentralization.”
Developers expect it to launch in the first half of next year, but it’s likely that the Cardano price will have already posted considerable gains by then.
This will partly be because the wider market is now gaining stream, following the Fed’s interest rate reduction earlier this month.
We may therefore witness a strong end to the year, with Cardano potentially reaching $0.50 by the end of October and $1 by the New Year.
New Small-Cap Alts with Big Potential
While ADA could rocket in the not-too distant future, most traders would do well to allocate a percentage of their portfolios to newer tokens, since the best of these can often rise exponentially.
This can also be the case with presale coins, which in generating momentum during their sales then go on to rally when listing.
One coin with a great chance of doing this is layer-two project Pepe Unchained (PEPU), which has now raised over $15.6 million in its hugely successful sale.
Pepe Unchained is close to launching its L2 network for Ethereum, with its platform offering near-instant transactions and very low fees.
Its long-term goal is to become an ecosystem for meme tokens, potentially attracting usage away from existing L2s such as Base and Optimism, as well as from Solana.
One incentive to joining its network is that, because of its greater scalability, it will offer double the staking rewards it would have as a layer-one meme coin running directly on Ethereum.
This could result in considerable demand for PEPU, which will also be necessary to pay for the network’s transaction fees.
It will come with a max supply of 8 billion PEPU, with its protocol allocating 30% to staking and 20% to its presale.
It’s also bullish that it now has a rapidly growing community, with its official X account boasting over 19,000 followers.
Read More: Pepe Unchained Price Prediction
Investors can join PEPU’s sale at the coin’s official website, where it’s now selling at $0.00986 per token.
This price will rise tomorrow, while it could rocket once the sale ends and PEPU lists on exchanges.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
